JBS imports 30 ships of corn from Argentina amid crop failure in Brazil

The shortfall in the corn crop in Brazil has led the meat industry to resort to corn imported from Argentina to meet its demand for feed input. Therefore, JBS has already acquired 30 ships of corn from the neighboring country.

The negotiations took place at 15 to 20 reais per 60 kg bag, which are more competitive than those in the domestic market – considering the industries located in the south and southeast regions – according to the company.

“Of the total corn used to feed poultry and swine in JBS/Seara production in Brazil, imports already represent 25% of consumption, with volumes exceeding one million tons,” he stated in a note. According to the company, “the excellent crop in Argentina” is what has enabled imports at more attractive prices”.

See below a comparison by DataLiner of the volume of Argentine corn imported by Brazil in the first five months of the year since 2018:

Brazilian Corn Imports (HS 1005) from Argentina | Jan to May 2018-2021 | WTMT

Graph source: DataLiner (click here to request a demo)

Aurora Foods has stated that it plans to import corn from Argentina and the United States this year due to the shortage of this grain and extremely high prices in the domestic market.

Importing is one of the alternatives for Brazil – traditionally one of the largest global exporters – to deal with a reduction in corn production that has already reached 9% compared to the last harvest, to 93.4 million tons, according to figures from CONAB (the national food-supply company), released this month.

Source: Money Times

To read the full original article, visit the link:  https://www.moneytimes.com.br/jbs-traz-30-navios-de-milho-da-argentina-em-meio-a-quebra-de-safra-no-brasil/

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